2025 Route 9N #168 · Saratoga Springs, NY 12833

$120,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 225 Days on market

Built 2025 Average condition $77/sqft · 36% below area Est $187k · 36% under

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Why this score? — see what drove the A grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.3/10.0
• Schools +6.1/10.0
• Livability +4.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Previously lived-in 3 bedroom, 2 full bath home for sale. Spacious lot location. This home features a large living room with entertainment center on one wall and an electric fireplace with mantel on another. Open concept kitchen with a great island to dine at and a hidden pantry behind a sliding barn door. Laundry room has an abundance of storage and fun features. Master bathroom has a gorgeous walk-in shower, double sink/vanity and a grand soaker tub to relax in!

Key facts

• Open concept kitchen
• Laundry room
• Abundance of storage

Tags

• LARGE LIVING ROOM
• ELECTRIC FIREPLACE
• OPEN CONCEPT KITCHEN
• HIDDEN PANTRY
• LAUNDRY ROOM
• ABUNDANCE OF STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.0% in Saratoga Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools A; Watch: amenities D+, cost of living F.
• Saratoga Springs City SD (suburban): math 67% / reading 72% proficiency, ranked #138 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 47 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($830 loan paydown + $10k appreciation (8.7% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.64% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.80%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (median comp): $187,272
• List price: $120,000
• Delta: -35.92%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

8.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.6%
• Equity multiple: 4.00×
• Total profit: $100,854
• Equity at exit: $96,890

10-year hold

• IRR: 36.8%
• Equity multiple: 8.71×
• Total profit: $258,947
• Equity at exit: $198,057

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12833

• Home prices YoY: 2.6%
• Active inventory: 47
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,964 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $722

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 58%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 225 DOM
2. 2026-06-17
   days on market $120,000 Active 224 DOM
3. 2026-06-16
   days on market $120,000 Active 223 DOM
4. 2026-06-15
   days on market $120,000 Active 222 DOM
5. 2026-06-14
   days on market $120,000 Active 220 DOM
6. 2026-06-13
   days on market $120,000 Active 219 DOM
7. 2026-06-10
   days on market $120,000 Active 217 DOM
8. 2026-06-09
   days on market $120,000 Active 216 DOM
9. 2026-06-08
   days on market $120,000 Active 215 DOM
10. 2026-06-07
    days on market $120,000 Active 214 DOM
11. 2026-06-05
    days on market $120,000 Active 211 DOM
12. 2026-06-03
    days on market $120,000 Active 210 DOM
13. 2026-06-02
    days on market $120,000 Active 209 DOM
14. 2026-06-01
    days on market $120,000 Active 208 DOM
15. 2026-05-31
    days on market $120,000 Active 207 DOM
16. 2026-05-31
    days on market $120,000 Active 206 DOM
17. 2025-11-06
    listed $120,000 Active 468-char remark

    Show marketing remark (468 chars)

    Previously lived-in 3 bedroom, 2 full bath home for sale. Spacious lot location. This home features a large living room with entertainment center on one wall and an electric fireplace with mantel on another. Open concept kitchen with a great island to dine at and a hidden pantry behind a sliding barn door. Laundry room has an abundance of storage and fun features. Master bathroom has a gorgeous walk-in shower, double sink/vanity and a grand soaker tub to relax in!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,570
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$3,491
• Taxable income: $7,186
• Est. tax owed @ 24.0%: −$1,725
• After-tax cash flow: $6,944/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Average 55/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its curb appeal and value. Painting the exterior and interior will significantly enhance its appearance and marketability.

Repairs flagged

• Moderate Exterior siding — Weathered appearance
• Minor Interior paint — Slight discoloration

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Paint interior walls — Improves appearance and value
• Both Replace or repair exterior siding — Improves appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Interior paint · Slight discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Paint interior walls — Improves appearance and value ↑
• Both Replace or repair exterior siding — Improves appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Saratoga Springs City SD
• NCES district ID: 3625770
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $69,864
• Composite: 60.83/100
• National rank: #818
• State rank: #138 of 590 in NY

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

Amenities D+ Commute A- Cost of living F Crime B Employment A+ Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 40,057
• Population (ZIP): 5,368

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Asian 1% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.69%
• Current HPI: 347.631
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2025-11-06 Listed $120,000 Zillow